M&G PLC Reduces Stake in Tapestry, Inc. $TPR

M&G PLC lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,107 shares of the luxury accessories retailer’s stock after selling 25,424 shares during the period. M&G PLC’s holdings in Tapestry were worth $9,278,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Tapestry in the third quarter valued at approximately $26,000. Vestor Capital LLC bought a new stake in shares of Tapestry in the second quarter valued at $27,000. CVA Family Office LLC lifted its position in shares of Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Tapestry during the 2nd quarter valued at $39,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Tapestry by 2,171.4% during the 3rd quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock worth $54,000 after acquiring an additional 456 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TPR shares. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. UBS Group reiterated a “neutral” rating and issued a $141.00 target price on shares of Tapestry in a research note on Monday, February 9th. Argus upgraded shares of Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. BTIG Research raised their price objective on shares of Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Raymond James Financial boosted their target price on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $145.05.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the sale, the chief executive officer owned 667,233 shares in the company, valued at approximately $70,266,307.23. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott A. Roe sold 44,290 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total value of $6,759,539.80. Following the transaction, the chief financial officer directly owned 139,128 shares of the company’s stock, valued at $21,233,715.36. The trade was a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 163,372 shares of company stock valued at $22,026,898 over the last 90 days. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $153.66 on Tuesday. The company has a 50 day moving average of $132.22 and a 200 day moving average of $116.91. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. The stock has a market cap of $31.11 billion, a P/E ratio of 63.49, a P/E/G ratio of 1.89 and a beta of 1.63. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $158.28.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company posted $2.00 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

Tapestry declared that its board has approved a share buyback program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.